Homework Answers
Classical growth theory - states that the economic growth will decrease or end because of increase in population and of limited resources. There will he temporary increase in real GDP per person because of population explosion but after some time it eventually decreases or fall down.
Subsist means - survive , live.
According to classical growth mode if individuals suddenly needed less food to survive ,than aggregate demand would fall down and price level will also fall down in long run.
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6. If individuals suddenly needed less food to subsist, what would happen, according to the classical...
Suppose that economic growth in Mexico suddenly slows, all other things held constant. According to the...
Suppose that economic growth in Mexico suddenly slows, all other things held constant. According to the monetary approach to exchange rates model, what should happen to the dollar price of the Mexican peso? Why does the model make this prediction?
According to the Classical model, if government suddenly spends more for space travel programs, this will...
According to the Classical model, if government suddenly spends more for space travel programs, this will cause Aggregate Demand to fall, causing prices to fall, but no change in long-run GDP Aggregate Demand to rise, causing prices to increase, but no change in long-run GDP. Aggregate Demand to fall, causing prices to fall and long-run GDP to fall Aggregate Demand to rise, causing prices to rise and long-run GDP to rise.
Assume the economy is in long-run equilibrium and AD decreases. According to the Classical Model, what...
Assume the economy is in long-run equilibrium and AD decreases. According to the Classical Model, what will happen to the equilibrium level of GDP and the Price Level?
1. Assume the economy is in long-run equilibrium and AD decreases. According to the Keynesian Model, what will happen to...
1. Assume the economy is in long-run equilibrium and AD decreases. According to the Keynesian Model, what will happen to the equilibrium level of GDP and the Price Level? Does the New (Modern) Keynesian Model say anything different will happen? 2. Assume the economy is in long-run equilibrium and AD decreases. According to the Classical Model, what will happen to the equilibrium level of GDP and the Price Level?
Suddenly put E. coli in 20% NaCl solution and distilled water respectively. What will happen? If...
Suddenly put E. coli in 20% NaCl solution and distilled water respectively. What will happen? If various nutrients for growth were added to the the above solvent, in which case would the growth of E. coli be supported? What's the reason?
2. (20 points) According to classical macroeconomics policy, money supply shocks are "neutral" (a) Explain what...
2. (20 points) According to classical macroeconomics policy, money supply shocks are "neutral" (a) Explain what this means. (b) Based on that theory, how would a 5% increase in a nation's money supply affect its real wage rate (), all else equal? I (c) According to the quantatity of money, how would a 5% increase in money supply affect the price of goods and services (P), all else equal? (d) To be consistent with both theories, what would have to...
6) According to the Beer-Lambert Law, what would happen to the absorbance of a solution if...
6) According to the Beer-Lambert Law, what would happen to the absorbance of a solution if the concentration of analyte (substance being studied) is tripled? 7) At a wavelength of 447 nm, the absorbance of a solution that is 5X10M in the FeSCN complex is found to be 0.981. Assuming this is accurate, calculate the molar absorption coefficient (absorptivity) for the complex if the optical path length is 1.0 cm.
3. According to macroeconomists, what would happen if a higher inflation rate becomes embedded in the...
3. According to macroeconomists, what would happen if a higher inflation rate becomes embedded in the economy (i.e., people believe they live in a world of high inflation)? Also, what would happen if a lower inflation rate becomes embedded in the economy?
of a closed economy. when 6. According to the classical long-run macroeconomic model of a co...
of a closed economy. when 6. According to the classical long-run macroeconomic model of a co decrease and government spending is unchanged a consumption and investment both increase b. consumption and investment both decrease c consumption increases and investment decreases d. consumption decreases and investment increases. 7. Suppose a business-friendly billionaire becomes president. As a result, businesses become optimistic about the future and more eager than before to increase their investment spending According to the classical long-run macroeconomic model of...
Explain the workings of the classical model. What would the model imply for the economy if...
Explain the workings of the classical model. What would the model imply for the economy if there was a) rise in personal savings b)rise in money supply c)rise in government spending financed by borrowing
According to the Classical model, if government suddenly spends more for space travel programs, this will cause Aggregate Demand to fall, causing prices to fall, but no change in long-run GDP Aggregate Demand to rise, causing prices to increase, but no change in long-run GDP. Aggregate Demand to fall, causing prices to fall and long-run GDP to fall Aggregate Demand to rise, causing prices to rise and long-run GDP to rise.
Assume the economy is in long-run equilibrium and AD decreases. According to the Classical Model, what will happen to the equilibrium level of GDP and the Price Level?
2. (20 points) According to classical macroeconomics policy, money supply shocks are "neutral" (a) Explain what this means. (b) Based on that theory, how would a 5% increase in a nation's money supply affect its real wage rate (), all else equal? I (c) According to the quantatity of money, how would a 5% increase in money supply affect the price of goods and services (P), all else equal? (d) To be consistent with both theories, what would have to...
6) According to the Beer-Lambert Law, what would happen to the absorbance of a solution if the concentration of analyte (substance being studied) is tripled? 7) At a wavelength of 447 nm, the absorbance of a solution that is 5X10M in the FeSCN complex is found to be 0.981. Assuming this is accurate, calculate the molar absorption coefficient (absorptivity) for the complex if the optical path length is 1.0 cm.
3. According to macroeconomists, what would happen if a higher inflation rate becomes embedded in the economy (i.e., people believe they live in a world of high inflation)? Also, what would happen if a lower inflation rate becomes embedded in the economy?
of a closed economy. when 6. According to the classical long-run macroeconomic model of a co decrease and government spending is unchanged a consumption and investment both increase b. consumption and investment both decrease c consumption increases and investment decreases d. consumption decreases and investment increases. 7. Suppose a business-friendly billionaire becomes president. As a result, businesses become optimistic about the future and more eager than before to increase their investment spending According to the classical long-run macroeconomic model of...
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